The new tax reform proposed that 60% of VAT goes to where product or services are consumed.
Consumption of products would be high at states with high population.
Northern Nigeria has the largest population. By Implication more consumption would take place in the north.
Which means only 40% what they collected would be shared with other states of federation.
And vice versa for the all the states of the federation.
New tax reform - No state get less than what they are presently getting
The proposed tax reform as in-built buffer that ensures that no state gets less than what they are presently getting.
5% of the total VAT collected across Nigeria is reserved for this purpose.
Then why is the jitteriness of some northern Nigerians except fear of Unknown.
God bless NIGERIA our beloved country!!!
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